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OakNorth Bank completes loan to The Jade Hotel, a family-run hotel in South Kensington, to fund expansion and renovations
The Jade Hotel has secured a loan to redecorate its 30 bedrooms and add another five, refit its bathrooms, and make repairs to the roof and front exterior; The hotel has been in operation since 1984 and is run by the Khalid family, who converted it from a 5-storey terraced house into a 30-bedroom hotel […]
OakNorth Bank provides £2.6m loan to national pub operator, Red Oak Taverns
As an accredited lender under the British Business Bank (BBB), OakNorth Bank was able to disperse the funds through the government’s Coronavirus Business Interruption Loan Scheme (CBILS); To address the impact of COVID-19, Red Oak Taverns has taken this loan as a standby facility to ensure the business has the required liquidity to deal with […]
OakNorth Bank completes £2.3m loan to leading Norfolk residential developer Dewing Properties
The capital, allocated through the government’s Coronavirus Business Interruption Loan Scheme (CBILS), will be used to part refinance an existing shareholder loan from sister company and release liquidity to the wider business; Dewing Properties recently completed a major residential development consisting of 44 homes, including eight affordable units, in the popular Norfolk coastal town of […]
OakNorth Bank partners with Opes Financial Partners, an independent mortgage broker, to completes a £32.7m loan for the acquisition of four properties in North East London
The capital will be used to facilitate the refinancing of one property and the acquisition of three further properties, comprised of residential and commercial which includes social housing and office space across two adjacent neighbourhoods in North East London; The four properties consist of 18 houses, 62 apartments (of which five apartments are for social […]
OakNorth Bank completes loan to Little Explorers day care to support the acquisition and development of a second nursery
Founded in 2015, Essex-based Little Explorers Day Nursery operates at 90 percent occupancy, has a Good Ofsted rating and has been nominated in the top 20 nurseries in the London region; With the nursery at almost full capacity pre-COVID-19, this loan will provide Little Explorers with the necessary capital to open a second site; The […]
Despite the ongoing impact of COVID-19, OakNorth Bank continues to see strong lending opportunities, approving £50m in new loans since lockdown began and £36m in CBILS loans
Since the UK went into lockdown, OakNorth Bank has approved £50m in new loans to fund a hotel refurbishment, an acquisition of 131 retirement units across the UK, and a fund buy-out; In addition to this, OakNorth Bank has approved over £36m of loans through the government’s Coronavirus Business Interruption Loan Scheme (CBILS) since being […]
